SpaceX Reveals Plans for What Could Be the Biggest-ever Sale of Stock to the Public
The world’s richest man announced plans Wednesday for one biggest sales of stock to the public ever for a space company currently losing billions of dollars year
NEW YORK (AP) — The world’s richest man announced plans Wednesday for one biggest sales of stock to the public ever for a space company currently losing billions of dollars year.
Documents filed on Wednesday show Elon Musk’s SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.
Still, the initial public offering is expected to rank among the largest ever, possibly surpassing the current title holder, Saudi Aramco, the oil giant that went public seven years ago.
Also Read | US Raises Pressure on Cuba with Indictment of Former Leader Raul Castro.
The prospectus did not put a dollar figure on the amount Musk hoped to raise but various reports have put it at $75 billion or so, a gusher that he is hoping will help to finance projects to put men on the moon and maybe some day Mars.
The initial offering could also make Musk, a major holder of SpaceX equity, the world’s first trillionaire.
(The above story first appeared on LatestLY on May 21, 2026 02:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
